Shop/office

If it is personal asset of assessee, it is a capital asset being house property hence, if it is additional to Self occupied property then  taxable as Demeed let out property, however taxable Income would be nil due to vacancy.

If it is Business asset of assessee, i.e capital asset put to use in business,temporarily vacant i.e not generating any incom,still considered as put to use in business( As usage include both active and passive usage) therefore depreciable asset, depreciated @ 10% for building( excluding cost of land)

Hope it is clear.

Akshay Agaldiviti
akshay.agaldiviti @ gmail.com

If it is personal asset of assessee, it is a capital asset being house property hence, if it is additional to Self occupied property then  taxable as Demeed let out property, however taxable Income would be nil due to vacancy.

If it is Business asset of assessee, i.e capital asset put to use in business,temporarily vacant i.e not generating any incom,still considered as put to use in business( As usage include both active and passive usage) therefore depreciable asset, depreciated @ 10% for building( excluding cost of land)

Hope it is clear.

Akshay Agaldiviti
akshay.agaldiviti @ gmail.com

If it is personal asset of assessee, it is a capital asset being house property hence, if it is additional to Self occupied property then  taxable as Demeed let out property, however taxable Income would be nil due to vacancy.

If it is Business asset of assessee, i.e capital asset put to use in business,temporarily vacant i.e not generating any incom,still considered as put to use in business( As usage include both active and passive usage) therefore depreciable asset, depreciated @ 10% for building( excluding cost of land)

Hope it is clear.

Akshay Agaldiviti
akshay.agaldiviti @ gmail.com